To look into the main events and trends from the marketing environment, which are likely to impact the market over the next few years I am going to do various analysis. I am going to research the macro and microenvironments. A STEP analysis will be conducted to look at the macro environment, which includes social-cultural, technological, economical and political factors. For the microenvironment factors competitors, suppliers, customers and stakeholders will be looked at. A SWOT analysis will then be carried out. Strengths and Weaknesses will look at the internal issues and the Opportunities and Threats will look at the external issues. Then I will be looking at the strategic options available for the business.
I have chosen to look at the food department of Marks and Spencer, more commonly known as M&S Food. According to wikipedia, M&S has over 400 stores in the UK and 192 stores managed internationally (www.wikipedia.org). M&S was established in the late 1800s but the food department was non-existent until 1931. M&S focus on selling mainly food and clothing but they are always growing. The most recent addition to their stores is the technology department. In 2001 M&S started opening Simply Food stores (www.marksandspencer.com)
According to an online article there is a rise in dual incomes. (Jane Musoke-Nteyafas, 2006) This means that couples will have more disposable income to spend on luxury items such as M&S food. A Mintel Report shows that people think that if you pay a lower price you get a lower quality (Mintel, March 2006). M&S prices are higher than most supermarkets such as Tesco and Asda therefore classified as a luxury product.
Peoples lifestyles are getting busier, but some people love being busy (Mintel, September 2006). This is why M&S have created many different types of stores to fit in with their lifestyles. For customers who use M&S for their weekly food shop there are out of town stores, which they... [continues]
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